Economics Corporation

Economics Corporation

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  • Oh of course! A corporation is a legal entity owned by individual stockholders.
  • Hey Bill, I kinda feel like starting a corporation in the near future. I need your help.
  • Sure I'll help, but I need to know what a corporation is first.
  • It won't end with the death of an owner, so the company will have a long life.
  • Not easy, corporation charters can be difficult, expensive, and time-consuming to establish.
  • How hard is it to start a corporation?
  • But how long will the company last? Is it even worth it?
  • If I help you start the corporation, who would have ownership?
  • What about the stockholders? Will they have to stay with the corporation once they gain stocks?
  • Don't worry, there's transferable ownership.
  • They are able to sell their stocks to others and get money in return, so no worries.
  • There must be annual meetings held for stockholders and we must keep careful records of transactions.
  • How much regulation is required? 
  • Maybe, but it's not as bad as the fact that corporations have double taxation.
  • Jeez, yearly meetings for the stockholders seems like a lot.
  • Well, that's a plus, anyway I should get going now...
  • Are there any other good things about starting a corporation?
  • Yes actually, since there are many people involved in a corporation, there is limited liability for owners.
  • Brought to you by Sydney Hudson, Mary Bush, Laila Eno, Shri Patel
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